Water Supply & Management industry
9 companies · ₹25,194 cr · 4 with AI deep dives · Q1FY27 report
Record order books across water/waste; Middle East disruption and payment delays compress near-term margins.
- Revenue YoY
- +23.8%
- EBITDA margin
- 12.6%
- -410bps YoY
- Price, 1 year
- -10.6%
- 20% of names up
- P/E vs own 5y
- -17.1%
- 25.1x now
Exhibit 1The quarter in numbers
constant panel of 4 companies above ₹500 cr- Jun 26
- 2,610 cr
- Mar 26
- 3,603 cr
- QoQ
- -27.6%
- Jun 25
- 2,108 cr
- YoY
- +23.8%
- Peak
- 3,603 cr
- vs peak
- -27.6%
- Jun 26
- 12.6%
- Mar 26
- 11.6%
- QoQ
- +100bps
- Jun 25
- 16.7%
- YoY
- -410bps
- Peak
- 16.7%
- vs peak
- -410bps
Breadth: 80% of 5 companies grew revenue year on year (was 100% a quarter earlier) and 0% expanded margin (was 20%).
Exhibit 2What it costs
17.29x - 37.99x across the panel todayThe median name trades at 25.1x, -17.1% against this industry's own 5-year median of 30.2x, and -43.2% against its own peak of 44.1x.
Exhibit 3Structure
₹25,194 crVa Tech Wabag Ltd is 49.3% of this industry by market cap. The top 5 are 94% and the top 10 are 100%.
Exhibit 4Screen
P/E below the sub-industry median of 25.05x, 5y ROCE above its median of 19.94%, and at least 2 growth triggers stated on the latest earnings call.
Which names clear this screen is premium
The screen runs on stated growth triggers from the latest earnings calls - the same guidance data the stock screener reserves for premium. Premium names every company in this industry that is cheap against its own median and has the triggers behind it.
See plans →Exhibit 5Coverage (9 of 9)
Every company here with a deep dive, topped up by market cap. The rest of the industry is in the appendix.
- Mcap
- ₹3,646 cr
- P/E
- 20.2x
- EV/EBITDA
- 13.1x
- ROCE
- 19.5%
- Margin
- 24.9%
- Rev YoY
- +49.1%
- Mcap
- ₹764 cr
- P/E
- 14.3x
- EV/EBITDA
- 9.3x
- ROCE
- 15.9%
- Margin
- 29.5%
- Rev YoY
- -12.8%
- Mcap
- ₹109 cr
- P/E
- 8.5x
- EV/EBITDA
- 6.0x
- ROCE
- 25.6%
- Margin
- 16.0%
- Rev YoY
- -
Exhibit 6What managements said
from Other Utilities earnings calls · as of 2026-06-30Five companies independently reported order books at or near record levels: WABAG at INR 19,400 Cr (>4x revenue, +33% YoY), EIEL at ₹6,814 Cr (+242% YoY), Concord Enviro at INR…
- WABAG (Q1FY27): “Our order book position reached a historic high of INR 194 billion, that is INR 19,400…”
Exhibit 7Outlook
The outlook and what resolves next quarter
Where these managements said things are heading, and the dated, checkable events that would change it. Free with an account - 3 full reports a quarter.
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